Fisher Ltd On 1 December 2008, Fisher Ltd (functional currency E) buys a warehouse for 420,000 on credit. The exchange rate is 1 15. Fisher Ltd carries buildings at historic cost. Depreciation of the building begins on 1 January 2009 At 31 December 2008, Fisher Ltd's year-end, the payable is still unsettled and the exchange rate is 1 1.4. The warehouse has a market value of 450,000 at this date Deloitte. AS 21 Home> Assessment Bookmarks: VIEW ADD QuickFind: GO Keyword Question 4 Consider the information provided in the attachment on the entity Fisher Ltd, and then complete the brief summary below Select the correct answers from the drop-down boxes On initial recognition on 1 December 2008 the factory and payable are recorded at 280,000. At 31 December 2008 the factory is recorded at At 31 December 2008 the trade payable is recorded at arises on the At the end of the reporting period an exchange factory At the end of the reporting period an exchange arises on the gain of 9,655 gain of 20,000 loss of 9,655 loss of 20,000 SUBMIT